7,358 Shares in EnLink Midstream, LLC (NYSE:ENLC) Acquired by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC purchased a new stake in EnLink Midstream, LLC (NYSE:ENLC) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 7,358 shares of the pipeline company’s stock, valued at approximately $107,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ENLC. ORG Partners LLC acquired a new stake in shares of EnLink Midstream in the 2nd quarter valued at about $28,000. Newbridge Financial Services Group Inc. bought a new position in EnLink Midstream in the second quarter worth approximately $56,000. First Horizon Advisors Inc. boosted its holdings in EnLink Midstream by 12.5% in the second quarter. First Horizon Advisors Inc. now owns 7,702 shares of the pipeline company’s stock worth $106,000 after acquiring an additional 853 shares in the last quarter. Sunbelt Securities Inc. grew its stake in EnLink Midstream by 21.9% in the second quarter. Sunbelt Securities Inc. now owns 8,396 shares of the pipeline company’s stock valued at $116,000 after acquiring an additional 1,511 shares during the period. Finally, Inscription Capital LLC bought a new stake in shares of EnLink Midstream during the third quarter valued at approximately $154,000. 45.87% of the stock is currently owned by institutional investors.

Insider Activity at EnLink Midstream

In other EnLink Midstream news, major shareholder Infrastructure Investor Global sold 200,340,753 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $14.90, for a total value of $2,985,077,219.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.84% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ENLC. Royal Bank of Canada reiterated a “sector perform” rating and issued a $15.00 target price on shares of EnLink Midstream in a report on Thursday, November 21st. Tudor Pickering upgraded shares of EnLink Midstream to a “strong-buy” rating in a report on Friday, August 16th. Tudor, Pickering, Holt & Co. upgraded shares of EnLink Midstream from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Friday, August 16th. StockNews.com upgraded EnLink Midstream from a “hold” rating to a “buy” rating in a research note on Tuesday, September 10th. Finally, US Capital Advisors downgraded EnLink Midstream from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, November 26th. Ten equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, EnLink Midstream presently has an average rating of “Hold” and a consensus target price of $15.40.

EnLink Midstream Stock Up 1.0 %

Shares of NYSE:ENLC opened at $16.01 on Monday. The company has a market capitalization of $7.32 billion, a PE ratio of 76.24 and a beta of 2.41. EnLink Midstream, LLC has a 1 year low of $11.53 and a 1 year high of $16.40. The company has a debt-to-equity ratio of 2.30, a current ratio of 0.42 and a quick ratio of 0.42. The business has a fifty day moving average price of $15.02 and a two-hundred day moving average price of $14.03.

EnLink Midstream (NYSE:ENLC) last posted its quarterly earnings data on Wednesday, November 6th. The pipeline company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.16). The company had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.98 billion. EnLink Midstream had a return on equity of 9.51% and a net margin of 1.96%. The business’s quarterly revenue was down 7.9% on a year-over-year basis. During the same quarter last year, the business posted $0.10 EPS. Analysts forecast that EnLink Midstream, LLC will post 0.51 earnings per share for the current year.

EnLink Midstream Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Friday, November 1st were issued a $0.1325 dividend. The ex-dividend date was Friday, November 1st. This represents a $0.53 dividend on an annualized basis and a dividend yield of 3.31%. EnLink Midstream’s dividend payout ratio (DPR) is presently 252.38%.

EnLink Midstream Company Profile

EnLink Midstream, LLC provides midstream energy services in the United States. The company operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate segments. It is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, trans-loading, and selling crude oil and condensate, as well as providing brine disposal services.